Akbank – Ratings Affirmed ; Outlook Remains Negative

Ref: TR0012 2 CRA00- 0 1 12 May 202 3

Akbank – Ratings Affirmed ; Outlook Remains Negative

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating ( LT FCR ) and Short-Term Foreign Currency Rating ( ST FCR ) of Akbank at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed Akbank’s Bank Standalone Rating ( BSR ) of ‘b+’ and t he Extraordinary Support Level (ESL) of Uncertain The Outlook for the LT FCR and BSR remains Negative.

The affirmation of the ratings balances Akbank’s resilient business model, which resulted in improved operating and net profitability in 2022 and s olid capital ratios, as well as the Bank’s supportive major ity shareholder (Sabanci Holding) against considerable downward risks to asset quality , the impact of regulatory forbearance measures ( which in…